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CEE & Turkey

Surprise IsBank USD750mn Issue Opens Up Turkish Bond Markets in 2019

It was the first subordinated bond by a Turkish FI this year.

21 Jan 2020

Deals Bips & Pieces CEE & Turkey

Turkey: Why “the Time is Now” to Go Green

After the volatility and crises that shook Turkey’s markets last year, the country’s economy has been on the road to recovery throughout 2019. While low global rates are pushing investors to hunt for yields in the Turkish market among others, many are also facing growing pressure to incorporate environmental, social or governance (ESG) considerations into their portfolios – which means those…

17 Jan 2020

Sabanci CFO on the Pivot Towards High-Tech and Broadening Access to Long-Term Funding

Large firms often fear getting outshone by their smaller and more nimble rivals, but Sabanci Holding – one of Turkey’s largest industrial and financial conglomerates – has recently emerged from a period of deleveraging to go on the offensive, making a series of strategic acquisitions and capitalising on emerging market opportunities that place technology at the centre of its growth strategy over…

19 Dec 2019

HSBC Turkey Sees Syndicated Loan, Bond Volumes Rising on The Road to Recovery

Following a tumultuous 2018, Turkey’s economy is now back on the road to recovery as the pathway to reform becomes clearer and global markets stabilise. Bonds & Loans speaks with Yiğit Arslancık, Assistant General Manager and Head of Wholesale Banking at HSBC Turkey about improving market sentiment, the growth in sustainable finance, and investor engagement.

6 Dec 2019

SOCAR Finance GM Pursues Trade Finance Alternatives Following STAR Refinery Launch

SOCAR, Azerbaijan’s state oil and gas company, currently bears the mantle of the largest foreign direct investor in Turkey. The opening of SOCAR’s USD6.3bn STAR Refinery in October 2018 marked one of many major projects in the country. Bonds & Loans spoke with Elchin Ibadov, Finance and IT Deputy General Manager, about SOCAR’s bid to create a centralised treasury function, fostering operational…

24 Oct 2019

Bahrain’s Mumtalakat CEO Eyes Global Investments with Positive Real Economic Impact

Known for a wide range of high-profile investments into companies like automotive heavyweight McLaren Group and metals giant Aluminium Bahrain (Alba), Mumtalakat – Bahrain’s sovereign wealth fund – is doubling down on its search for investment opportunities that have a lasting positive impact on the real economy. Several months after it issued a debut sukuk and ahead of its 15-year anniversary,…

4 Sep 2019

Neuberger Berman Emerging Market Debt PM: Biggest Risk to Investors is Commodity Price Swings

This year has seen yet another spate of debut sovereign issuances from across emerging markets (EM). Meanwhile, softening growth in China has tempered the GDP outlook across emerging markets. Bonds & Loans speaks with Kaan Nazli, Senior Economist and emerging markets sovereign debt Portfolio Manager at Neuberger Berman, about the EM outlook through 2019.

27 Aug 2019

Turkish Banking Sector Remains Resilient Despite Ongoing Volatility

With GDP growth set to deteriorate and political volatility ever-present, the banking sector still remains exposed to weakening asset quality and currency fluctuations. However, key metrics indicate that, short of a period of severe and prolonged market stress, the banking sector will be able to ride out the next storm.

16 Aug 2019

GCC Corporates Benefit from Asian Long Money

As rates continue to fall in many parts of Asia, investors have increasingly turned to emerging markets in their hunt for yield. But given their generally cautious and conservative approach to investment, many have favoured so-called ‘safe emerging markets’. Now, as growth begins to soften in China, a growing number are turning their attention to the GCC’s corporate credit market to find secure,…

9 Aug 2019

CASE STUDY: Eurotorg Issues Enters Russian Market with Belarus’ First RUB Bond

After becoming the first Belarusian corporate to enter the Eurobond market two years ago, Eurotorg is now breaking new ground with its RUB5bn Russian issuance. Receiving healthy demand from investors – both domestically and internationally – the issuance is indicative of a flexible and increasingly diverse financing strategy.

8 Aug 2019

The Case for Diversification: Why CFOs Shouldn’t Wait for the Next Liquidity Crisis to Act

In the face of relatively abundant banking sector liquidity and stabilising oil prices, CFOs and treasurers have rightly questioned the need to shift their funding focus away from the region’s deep-pocketed lenders. With the global growth outlook looking more uncertain, new trade wars becoming a near daily feature of the global policy discussion, and in light of recent moves to bolster the…

2 Aug 2019

Invest in Turkey: One Belt One Road Already Helping Attract Capital from Asia

Despite being caught in the turbulence that rocked emerging markets in 2018, Turkey remains an attractive destination for foreign investors, boasting strong fundamentals and a growing pipeline of projects in need of capital. Bonds & Loans spoke with Ahmet Burak Dağlıoğlu, Vice President of Invest in Turkey, about the growing role of Asian investment in the country, funding diversification and…

30 Jul 2019

Euro-Denominated Bonds on the Rise Amid Flurry of CEEMEA Issues

Central and Eastern European sovereign bond markets came to life in the second quarter of 2019, a period that saw a sharp rise in traditional US dollar borrowers – and investors – switching into euro notes across the region. The dynamic reflects a tangible recovery in EM debt sales amidst the ECB’s and the Fed’s dovish tilt, but just how long the hunt for yield will prevail is far from clear.

29 Jul 2019

Majid Al Futtaim’s Treasury Head on Why Going Green is About More than Just Marketing

UAE-based lifestyle conglomerate Majid Al Futtaim broke new ground earlier this year when the company placed the world’s first benchmark-sized corporate green sukuk. Bonds & Loans spoke with John Arentz, Head of Treasury at Majid Al Futtaim, about the company’s green capital markets debut, the strategy underpinning the transaction, and why – green bond or not – treasurers need to bolster their…

26 Jul 2019

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